Hong Kong stocks rise after historic protest, government climbdown on extradition proposal restore confidence

Hong Kong stocks rose on Monday, after the city’s leader apologised for her handling of a controversial bill that would allow extraditions to China, following a historic protest joined by an estimated two million people.The Hang Seng Index edged up 0.4 per cent to 27,227.16, snapping a three-day losing streak. The benchmark was previously weighed down by worries over raw tensions between Hong Kong’s government and demonstrators, against the backdrop of an escalating US-China trade war.Chief… Source link

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‘Chinese pig’ remark lands UBS in trouble as state firm excludes Swiss bank from bond sale

One of China’s biggest state-owned infrastructure companies excluded UBS Group from a bond deal after the bank’s global chief economist sparked a furore with his use of the phrase “Chinese pig”.China Railway Construction Corp decided against hiring UBS as a joint global coordinator on a dollar-bond sale, a CRCC spokesman said. The decision was prompted by last week’s pig remark, sources said earlier. UBS declined to comment.CRCC is the first known corporate issuer to distance itself from UBS… Source link

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Goldman to merge four units to create a larger entity to invest in private companies, real estates and other deals

Goldman Sachs is finally embracing its status as a private equity giant.The firm’s top executives in recent months have laid out plans to raise more client funds for private investing and rely less on its own balance sheet. As part of that effort, the bank is looking to consolidate the investing activities of multiple units across the firm to add more heft to its merchant banking division, according to people briefed on the matter. A related announcement was set for as soon as Monday.The Wall… Source link

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Ping An’s fintech unit, OneConnect leans towards New York over Hong Kong for IPO, say people familiar

Ping An Insurance Group’s OneConnect financial technology unit is leaning toward picking New York over Hong Kong for its initial public offering (IPO) in the hope of achieving a higher valuation, three people with direct knowledge of the matter said.Ping An Insurance, China’s biggest insurer by market value, had been planning a Hong Kong IPO of the unit since the beginning of the year in a deal that could raise up to US$1 billion.The insurer is now seeking to list OneConnect in New York as… Source link

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Singapore 

P1 registration for 2020, all you need to know, Lifestyle, Singapore News

(a) For a child whose parent has joined that primary school as a parent volunteer not later than 1 July 2018 and has given at least 40 hours of voluntary service to the school by 30 June 2019. (b) For a child whose parent is a member endorsed by the church / clan directly connected with the primary school. (c) For a child whose parent is endorsed as an active community leader. Results announced: 26 July 2019 (Friday) PROCEDURE FOR PHASE 2A(1), PHASE 2A(2), PHASE 2B Parent is to submit…

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Loss-making Hareon Solar has cheapest stock in China, at just 0.02 per cent of liquor giant Kweichow Moutai’s share price

A struggling manufacturer of components for solar panels has set a new record for having the cheapest ever shares in China’s stock market.Shares of Hareon Solar Technology, which is set to be stripped of its listing status, were trading at 0.18 yuan (2.6 US cents) on Monday after declining for 14 consecutive days, making it the least valuable stock among the 3,000-plus companies on the mainland Chinese exchanges.The solar cell and module maker’s stock price is a mere 0.02 per cent that of… Source link

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Typhoon season is round the corner and climate change is upon us – there’s no better time to get into green finance

A harbourside commercial building had its windows blown out when Super Typhoon Mangkhut made landfall in Hong Kong on September 16, 2018. Flooded homes, damaged infrastructure, disrupted supply chains and higher insurance premiums are some of the effects of climate change we need to plan for. Photo: AFP Source link

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Singapore 

SCDF ragging incident death: NSF’s last words were ‘cannot encik’, Singapore News

SINGAPORE – The last words uttered by Corporal Kok Yuen Chin before falling into the 12-m deep pump well were of protest. “Cannot encik,” the 22-year-old had said, just seconds before he was pushed into the Tuas View Fire Station pump well where he drowned during a ragging incident to mark the completion of his national service. Regular specialists in the Singapore Civil Defence Force (SCDF) are referred to as enciks. Cpl Kok’s last words were heard in video footage shown in court on Monday (June 17) during an ongoing…

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Singapore 

Police officer found dead with gunshot wound to head at Yishun North NPC, Singapore News

SINGAPORE – A 28-year-old regular police officer was found dead with a gunshot wound to his head at the Yishun North neighbourhood police centre (NPC) on Sunday night (June 16). The police said in a statement on Monday that the male officer, a police sergeant, had reported for duty at 7.30pm on Sunday at the NPC at 31 Yishun Central and drew his service pistol from the armoury. He was found alone with a gunshot wound to his head at the rest area of the NPC at around 9.30pm, the…

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Singapore 

Jail for two brothers who threw Molotov cocktails at St James Power Station nightspot, Singapore News

SINGAPORE – Two brothers flung Molotov cocktails at a bar in St James Power Station after bouncers told the older sibling and his friends to get out of another nightspot in the vicinity following a dispute in 2016. Bryan Ho Chang Rong, 29, was sentenced to two years and four months’ jail on Monday (June 17), while his younger brother Cephas Ho Jin An, 26, was given two years and nine months’ jail. The pair, who committed the offence with three friends, had earlier pleaded guilty to one count each…

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